2020 Overview

General Bank Information

Merchants State Bank is an FDIC insured institution located in Freeman, SD. It was founded in 1899 and has approximately $0.18 billion in assets.
Customers can open an account at one of its 4 branches.

FDIC Insured

Yes

FDIC Certificate

# 1125

Date Established

1899

Assets

$ 175.60 million

Loans

$ 138.07 million

Deposits

$ 141.28 million

Capital

$ 23.65 million

For a more detailed analysis of Merchants State Bank's financial condition and a description of what these numbers mean, please visit the Financial
Details section.

Featured - Connecticut Home Equity Line Of Credit Rates 2020

Our APRs start at 3.49% for the most qualified applicants and are higher for other applicants. For example, for a borrower with a CLTV of 45% and a credit score of 800, a five-year Figure Home Equity Line with an initial draw amount of $50,000 would have a fixed annual percentage rate (APR) of 3.49% and a 4.99% origination fee. Your total loan amount would be $52,495. You will be responsible for an origination fee of up to 4.99% of your initial draw, depending on the state in which your property is located and your credit profile. Your actual rate will depend on many factors such as your credit, combined loan to value ratio, loan term and occupancy status. The advertised rate of 3.49% includes a combined discount of 0.75% for opting into a Quorum Membership (0.50%) and enrolling in autopay (0.25%). APRs start at 4.24% for customers that do not opt in to autopay or apply to become a Quorum member. Property insurance is required as a condition of the loan and flood insurance may be required if your property is located in a flood zone.

Minimum credit score of 640

No in-person appraisal; At-home closing process

Use to consolidate debt or finance your next project

Rated Excellent on TrustPilot

Note to Merchants State Bank
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Branches

Merchants State Bank branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

Your Location:
Fairfield,Connecticut

Merchants State Bank Locations

Financial Details

Merchants State Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Merchants State Bank.
The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio

Merchants State Bank

U.S. Bank Average

10.37%

6.51%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned)
with its tangible common equity and its loan loss reserves.
A lower Texas ratio indicates better coverage of problem loans.
The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank
has to absorb its loan losses.

As of December 31, 2019,
Merchants State Bank had $2,621,000 in non-current loans and $0 in owned real estate.
To cover these potential losses it had $23,645,000 in equity and $1,622,000 in loans loss reserves.
That gives it a Texas Ratio of 10.37%.

Return on Equity

Merchants State Bank

U.S. Bank Average

13.37%

9.41%

Merchants State Bank has a Return on Equity of 13.37% versus the BestCashCow average of 9.41%.
Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run.
A bank with a consistently low ROE can be considered poorly run.

Capitalization

Merchants State Bank

U.S. Bank Average

13.47%

12.82%

Merchants State Bank has a Capitalization of 13.47% versus the BestCashCow average of 12.82.
Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet.
The higher the capitalization number the more secure a bank is considered.

Merchants State Bank Balance Sheet Analysis

As of December 31, 2019,
Merchants State Bank had assets of $175,599,000, loans of $138,068,000, and deposits of $141,281,000.
Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets.
Loan and asset growth may rise or fall depending on a bank's strategy for growth.
Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending.
A big change in these figured can also be from a bank acquisition or merger.

Summary Balance Sheet

December 31, 2019

ASSETS

Cash & Balances due from depository institutions

$ 3.25 million

Interest-bearing balances

$ 0.06 million

Total securities

$ 23.86 million

Federal funds sold and reverse repurchase

$ 0.88 million

Net loans and leases

$ 138.07 million

Loan loss allowance

$ 1.62 million

Trading account assets

N.A.

Bank premises and fixed assets

N.A.

Other real estate owned

N.A.

Goodwill and other intangibles

N.A.

All other assets

$ 7.40 million

Total Assets

$ 151.95 million

LIABILITIES

Total deposits

$ 141.28 million

Interest-bearing deposits

$ 112.71 million

Deposits held in domestic offices

$ 141.28 million

% insured (estimated)

77.14%

Federal funds purchased and repurchase agreements

$ 0.12 million

Trading liabilities

N.A.

Other borrowed funds

$ 7.00 million

Subordinated debt

N.A.

All other liabilities

$ 3.56 million

Total Liabilities

$ 151.95 million

Shareholders’ Equity

$ 23.65 million

Summary Income Statement

December 31, 2019

INCOME AND EXPENSES

Total Interest Income

$ 8.80 million

Total Interest Expense

$ 1.75 million

Net interest income

$ 7.04 million

Provision for loan and lease losses

$ 0.30 million

Total non interest income

$ 0.53 million

Total non interest expense

$ 4.11 million

Pre-tax Net Operating Income

$ 3.16 million

Bank Loan Profile?

The top three loan types in Merchants State Bank’s loan portfolio are Farm Loans, Commercial Real Estate, and Commercial and Industrial Loans.

Compared to other banks, Merchants State Bank’s loan portfolio does not show any specific loan specialty.